- CertiK Alert observed transactional activities connected to the recent Steadefi exploit.
- An EOA deposited 100 ETH worth nearly $185,000 into TornadoCash.
- Stedefi was hacked for $334K on Monday, August 7, 2023.
CertiK Alert, the platform renowned for providing information on crypto hacks, crypto scams, and flash loans, has observed transactional activities connected to the recent Steadefi exploit. According to the CertiK Alert, an Externally Owned Account (EOA) deposited 100 ETH worth nearly $185,000 into TornadoCash.
The crypto-hack alert platform observed that the identified EOA holds 424 ETH, equivalent to $786,000, even after making the deposit into TornadoCash.
Steadefi, a decentralized finance (DeFi) application, was reportedly hacked on Monday, August 7, 2023. The hack resulted in a loss of at least $1.14 million, leading to heightened risk to all funds in their vault.
Following the exploit, Staedefi sent an on-chain message to the hackers’ wallet address for negotiation, offering a 10% bounty on all the stolen funds. In the public statement, Steadefi promised to cease further pursuing the issue and to withdraw from involving law enforcement agencies if the hackers agreed to and fulfilled the bounty proposal by 0800 UTC on Thursday, August 10, 2023.
Steadefi further promised to extend the bounty offer to the public if the hackers failed to cooperate with them before the deadline. By extending the offer, any person who identifies the hackers in a way that leads to a conviction in court would receive the bounty offer.
As of Tuesday, August 8, Steadefi informed the public that it had successfully recovered about $418,000 of users’ funds from the remaining compromised vaults. It also stated that it had reported the matter to the authorities and worked with security firms on tracking the hackers’ on-chain and off-chain movements.
The hackers compromised Steadefi’s protocol deployer wallet, which owns all vaults in the protocol. That enabled them to transfer ownership of all the vaults to a wallet they controlled and took various owner-only actions, such as allowing any wallet to borrow any available funds from the lending vaults.
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